Seeking Alpha

Goldman, Deutsche Bank looking to sell uranium ops

  • Goldman Sachs (GS) and Deutsche Bank (DB) are looking to exit an area of operations that not that many people know they're involved in: trading supplies of raw uranium, which is also known as yellow cake.
  • Between them, the companies have built up stockpiles of low-grade uranium larger than those held by Iran.
  • However, with scrutiny of banks' physical-commodities trading increasing and uranium demand low following the Fukushima disaster, the firms are looking to sell their uranium trading desks.
  • Australian bank Macquarie (MCQEF) is reportedly interested in Goldman's operations, which are called NUFCOR.
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